Stock Track | Defiance Daily Target 2X Long MSTR ETF Soars 18.94% Pre-Market on Bullish MicroStrategy Rating

Stock Track11-20 22:32

The Defiance Daily Target 2X Long MSTR ETF (MSTX) saw a significant pre-market soar of 18.94% on Wednesday, driven by a surge in MicroStrategy (MSTR) stock after analysts at Benchmark reiterated their "Buy" rating on the company.

MSTX is a leveraged exchange-traded fund (ETF) that aims to deliver twice the daily returns of MicroStrategy's stock price movements. As a leading enterprise analytics and software firm, MicroStrategy's stock rallied on the positive analyst ratings and recommendations, which boosted investor confidence and buying interest.

The bullish "Buy" rating from Benchmark analysts on MicroStrategy fueled the rally in MSTR shares, and the impact was amplified in MSTX due to its leveraged nature. The significant price movement in MSTX reflects the market's optimism for MicroStrategy's prospects and the potential for further upside following the favorable analyst coverage.

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